Bitcoin Price Plunges to Decline Lows
Overnight, Bitcoin Price made the plunge to long-term support currently near $270. This is an important juncture in the price chart, and the end of decline is finally in sight. Additional decline is possible, and market participants are advised to wait for confirmation that the low has been struck. Bitcoin Price Analysis. Time of analysis: 06h00 UTC. Bitstamp Daily Chart. The Bitstamp daily chart dropped very close to the rising long-term support near $270 and printed a low of $277. The price lows are not being confirmed by the RSI and MACD indicators that are showing severe divergence....
Related News
Bitcoin’s volatility has been diving as of late, with the benchmark cryptocurrency seeing multiple prolonged bouts of sideways trading. Last week, BTC did see some turbulence that caused its price to rally from lows of $10,400 up to highs of $11,700. This move occurred over multiple days and has since resulted in it seeing yet […]
Bitcoin reversed below $20,000 once more after the sell-offs that followed the completion of the Ethereum Merge. With the decline, the digital asset had revisited lows not seen in three months, giving credence to the bears during this time. However, one problem remains, and that is the fact that the cryptocurrency has been unable to find suitable support, causing the downtrend to continue. Bitcoin Price Falls To Range Lows Over the last week, bitcoin has seen multiple declines in its price. The Ethereum Merge had turned into a “buy the rumor” event which led to massive accumulation across....
After a multi-week bought of grinding lower, Chainlink saw a capitulatory decline earlier this week that came about in the form of a sharp downturn. This caused LINK to plummet to lows of under $7.50 – marking a massive decline from its $20.00 monthly highs. Following the dip to this price region, the cryptocurrency incurred […]
Bitcoin price declines reluctantly and has not achieved a new high since Sunday. Successive lows are printing in the chart and the bulls seem to be using each as an enthusiastic buying opportunity, making for a jagged decline. Since Sunday’s high price has been making lower highs and lower lows, but the decline is proceeding with difficulty. At the smaller timeframes price can be seen to swiftly retrace each wave to a new low by almost 90% of its length. Either the decline is in its early stages and the bulls are still reluctant to concede, or this downward move is corrective and will be....
Yearn.finance (YFI) underwent a strong bounce on Friday after the coin hit multi-week lows of $9,800. The cryptocurrency surged around 20% from $9,800 to $11,900 over the span of eight hours. But unfortunately for buyers of the cryptocurrency, it has continued to decline. Yearn.finance’s governance token currently trades for $10,500, failing to hold the aforementioned […]